Central Petroleum Limited Stock Market Press Releases and Company Profile
Appointment of General Manager Exploration
Appointment of General Manager Exploration

Brisbane, Mar 6, 2019 AEST (ABN Newswire) - Central Petroleum Limited (googlechartASX:CTP) ("Company" or "Central") has begun defining its next phase of growth following the commencement of the Northern Gas Pipeline ("NGP") in January. This new link to east coast gas markets is the catalyst for exciting transformational change for the Company's financial performance. Consistent with our strategic direction for the second half of the 2019 financial year, proving Central can generate enough free cash flow from operations to undertake organic growth activity is paramount.

To support this phase of new growth for the Company, we are pleased to announce the appointment of Dr Duncan Lockhart as General Manager Exploration effective 8th April 2019. Duncan has deep and directly relevant experience applying a play-based exploration methodology, screening and assessing play-maps for high value Australian on-shore exploration opportunities in greenfield and brownfield environments, and assessing asset acquisition opportunities throughout the East Coast. Duncan brings a wealth of more than 25 years of exploration experience to Central, significantly boosting our exploration capabilities.

"We are very excited to welcome Duncan to the management team at Central, where he will update our assessment of potential high value exploration targets, develop strategies to explore these high value targets, and contribute to brownfield resource maturation in areas such as Mereenie and Palm Valley. Duncan will be reporting directly to me, which provides a clear indication of the significant contribution both the Board and I expect from this position. We intend to be very deliberate and selective in our investments in exploration to ensure the use of any internally generated capital provides for highly value accretive activities", said Mr Leon Devaney (CEO and Managing Director).

Duncan Lockhart (Bio)

Duncan Lockhart will be responsible for the management of conventional and unconventional technical exploration activities and will become a member of the management team reporting directly to the CEO. Duncan has held a wide array of senior roles within the Oil & Gas industry both within Australia and Internationally. Recent experience has been with Senex as Manager Regional Studies and Drill Search as Executive General Manager-Exploration where he identified high value opportunities, provided technical assessments and successfully implemented regional strategic initiatives. Duncan's professional experience encompasses 25 plus years with Companies such as BHP Petroleum, Woodside and Origin. Coupled with his experience, Dr Lockhart holds a number of qualifications including a Bachelor Applied Science-Geology, Bachelor Science (Honours)-Geology from The University of QLD and a PhD from Queensland University of Technology.


About Central Petroleum Limited

Central Petroleum LimitedCentral Petroleum Limited (ASX:CTP) is a well-established, and emerging ASX-listed Australian oil and gas producer. In our short history, Central has grown to become the largest onshore gas producer in the Northern Territory (NT), supplying industrial customers and senior gas distributors in NT and the wider Australian east coast market.

Central is positioned to become a significant domestic energy supplier, with exploration and development plans across 180,000 km2 of tenements in Queensland and the Northern Territory, including some of Australia's largest known onshore conventional gas prospects. Central has also completed an MoU with Australian Gas Infrastructure Group (AGIG) to progress the proposed Amadeus to Moomba Gas Pipeline to a Final Investment Decision.

We are also seeking to develop the Range gas project, a new gas field located among proven CSG fields in the Surat Basin, Queensland with 135 PJ (net to Central) of development-pending 2C contingent resource.

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Contact

Investor and Media Inquiries:
Greg Bourke: +61-478-318-702
Sarah Morgan: +61-421-664-969



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